Shares in the Manhattan-based company, founded and controlled by New York’s Lauder family, plunged as much as 18% after Estée Lauder said it will be cutting between 5,800 and 7,000 jobs.

Estée Lauder bets on AI and digital innovation to revive sales slump under new CEO; appoints Aude Gandon as first ever ...

Estee Lauder will lay off between 5,800 and 7,000 employees after second-quarter sales plummeted 6% and operating income tanked to a $580 million loss. Newsletters Games Share a News Tip.

Lauder served as President of Estée Lauder Companies from 1972 to 1995 and as Chief Executive Officer from 1982 through 1999. He was named Chairman in 1995 and served in that role through June 2009.

John Demsey made diversity Estée Lauder’s corporate pitch. An Instagram post with a racial epithet cost him his job. By Jacob Bernstein John Demsey, the beauty executive who became an industry ...